World Economic Forum survey: Developing countries like metaverse, but high-income countries don't

Developing countries are far more excited about metaworlds and virtual or augmented reality (VR/AR) than high-income countries, according to a survey by the World Economic Forum (WEF).

The concept of the metaverse is now widely accepted: 52 percent of more than 21,000 adults surveyed in 29 countries were familiar with the metaverse, according to survey results published by market research firm Ipsos on May 25. 50% had a positive feeling about using it in their daily life.

China, India, Peru, Saudi Arabia and Colombia were the top five countries where two-thirds or more of respondents said they felt positively about it.

China has the highest proportion, with 78% of the people having a positive attitude towards using Metaverse Daily, followed by India, with 75% of the people having a positive attitude.

Less than a third of respondents had a positive view of the Metaverse, and the countries with the lowest scores were also the countries with the highest incomes.

Japan scored the lowest, with just 22% expressing a positive sentiment, followed by the UK (26%), Belgium (30%), Canada (30%), France (31%) and then Germany (31%).

Interestingly, this concept is also less familiar in those high-income countries, with less than 30% in France, Belgium and Germany.

Turkey is the most familiar with the metaverse at 86%, followed by India (80%), China (73%) and high-income country South Korea (71%). Poland scored the lowest at 27%.

Respondents were also surveyed about the areas of life in which they felt the Metaverse had the most influence. Developing countries such as South Africa, China and India agree that applications such as virtual learning, entertainment, digital networking and even remote surgery will have an impact on people's lives.

Likewise, respondents from high-income Japan, Belgium, and France were the least likely to believe that Metaverse apps will significantly change people's lives.

Developing countries appear to be more enthusiastic about cryptocurrencies and blockchain, according to an April report by cryptocurrency exchange Gemini, which noted that half of respondents in India, Brazil and the Asia-Pacific region bought their first cryptocurrency in 2021. a cryptocurrency.

Citing inflation and currency devaluation as drivers of cryptocurrency adoption in these regions, the report states that residents of countries whose currencies have devalued by 50 percent or more are five times more likely to plan to buy cryptocurrencies than countries with lower inflation.